Strong Momentum of Image Sensors and PS4 Will Continue; Revising Sony FVE to JPY 4,000
Sony reported JPY 92.3 billion operating profit for the December quarter, which is 54.3% below the previous year’s number, and below our forecast of JPY 200 billion. However, since Sony had announced goodwill impairment of JPY 112.1 billion on Jan. 30, we believe that announced numbers were broadly in line with our expectation. Concurrently, Sony has revised its full-year operation profit guidance from JPY 270 billion to JPY 240 billion, reflecting: 1) JPY 112.1 billion impairment expense mentio...Sony is engaged in the development, design, production, manufacture, offer and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets such as network services, game hardware and software, televisions, audio and video recorders and players, still and video cameras, mobile phones, and semiconductors. Co. is engaged in the development, production, manufacture, and distribution of recorded music and the management and licensing of the words and music of songs as well as the production and distribution of animation titles. Co. is also engaged in the production, acquisition and distribution of motion pictures and television.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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